Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Most of the coins are in the green zone on the first day of the week; however, there are some exceptions to the rule, according to CoinStats.
SOL/USD
Unlike other coins, the price of Solana (SOL) has fallen by 2.1% over the last day.
On the hourly chart, the rate of SOL is in the middle of the local channel, between the support of $180.77 and the resistance of $189.72. If growth continues, one can expect a test of the upper level by tomorrow.
On the longer time frame, traders should focus on the bar's closure in terms of the support of $175.89.
Denys SerhiichukIf it happens near it or below, the energy might be enough for a level breakout, followed by an ongoing downward move to the $170 area.
From the midterm point of view, there are no reversal signals yet. If the weekly bar closes near its low, traders may witness a test of the support of $157.82 soon.
SOL is trading at $184.50 at press time.
Dan Burgin
Vladislav Sopov